THE WORSE BUILDING SOCIETY IN UK PROTECTED BY THE FINACNIAL OMBUDSMAN

Skipton building society did not honour they agreement with 65000 cusotmer in uk has joint the mortgage with gurantee they interest rate will not be more than 3% above the bank of england base rate

Skipton had guaranteed approximately 65,000 people that its SVR would not be more than 3% points above the Bank of England base rate. However as of 1st March 2010 Skipton increased its SVR to 4.95% claiming that the SVR of 3%:

"was not sustainable in the long term particularly in view of the cost of attracting retail funding. Fundamentally, it is in reaction to the impact on the UK savings market of the Bank Base Rate plummeting to such an unprecedented level of 0.5%”.

As a result of the above Skipton argue that the "exceptional circumstances” clause in borrower contracts is triggered allowing Skipton to not honour the "Guaranteed” lower rate.

Having received Counsels advice we feel that those borrowers who contracted to Skiptons Guaranteed SVR have a potential claim pursuant to the Unfair Terms in Consumer Contracts Regulations 1999.

in other way skipton has change they self mortgage policy which too many customer has been taking over the oast a few years skipton also refused to release any fund for thos who did have a self build mortgage with skipton building society and has been adviced to remove they mortgage to another self build mortgage provider as they have change they policy,

this is a very serious case specialy when self build mortgage has been aranged and paid for it now they asking they coustomer to move over to another lender after they have received all the planing permision needed to start the building process the planing permision will not last for ever and if expired they will loss all the fee all of that becouse an ntrustworthy lender who can't honour they agreement ,

this message has been sent to the prim minister asking for immediate invetagion why the financial ombudsman protecting skipton building society ,

if you do have a similar probelm please get in touch